TLT ended the week stalled at the 107.65 midpoint pivot of a conventional bullish pattern projecting to 115.87. We’ll need to see a decisive push past the pivot — or better yet, a two-day close above it — before we assume the target will be reached. In the meantime, a bid can be placed at 103.54, stop 99.42, to get long using a promising ‘mechanical’ trigger. The trade would offer somewhat better odds if the pullback were to come from our sweet spot midway between p and p2.
TLT – Lehman Bond ETF (Last:106.75)